Textron Inc. (NYSE:TXT) Given Average Recommendation of “Hold” by Brokerages

Shares of Textron Inc. (NYSE:TXT) have been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.36.

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Citigroup decreased their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th.

Textron Stock Up 1.4%

Shares of NYSE:TXT opened at $80.36 on Friday. The company has a fifty day moving average of $73.76 and a 200-day moving average of $73.93. The company has a market capitalization of $14.51 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. Textron has a 52-week low of $57.70 and a 52-week high of $94.57.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. On average, equities analysts predict that Textron will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is currently 1.81%.

Institutional Trading of Textron

A number of institutional investors have recently bought and sold shares of TXT. Bank of New York Mellon Corp boosted its position in Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after acquiring an additional 104,982 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Textron by 438.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,698 shares of the aerospace company’s stock valued at $1,660,000 after acquiring an additional 17,672 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Textron during the 4th quarter worth about $6,512,000. U S Global Investors Inc. boosted its position in shares of Textron by 13.3% during the 4th quarter. U S Global Investors Inc. now owns 262,574 shares of the aerospace company’s stock worth $20,084,000 after purchasing an additional 30,831 shares in the last quarter. Finally, ADG Wealth Management Group LLC bought a new position in shares of Textron during the 4th quarter worth about $206,000. Institutional investors own 86.03% of the company’s stock.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.